Hainan Airlines expects to report $US306m net profit for 2010

Updated: 2011-02-10 10:37:48

Hainan Airlines 737-800. Photo: By Rob Finlayson.

Hainan Airlines said it expects to report 2010 net income of more than CNY2.01 billion ($306 million), a sixfold increase over a CNY335 million net profit reported for 2009 (ATW Daily News, April 26, 2010).

The Haikou-based carrier credited "rapid growth of market demand stimulated by the global economic recovery and robust domestic economic growth," favorable government policy that aims to build Hainan as a vacation destination and increase operating efficiency.

Owing in large part to surging domestic growth, Chinese carriers earned a collective net profit of CNY35.1 billion ($5.28 billion) in 2010, according to CAAC (ATW Daily News, Jan. 12).